How Much Did Invoca Raise? Funding & Key Investors

Invoca has successfully raised $184 million over multiple funding rounds, with its latest being a Series F round. The company specializes in AI-powered conversation analytics software designed to enhance marketing, sales, and contact center operations.

Keep reading to explore the intricacies of Invoca's fundraising journey and the investors backing this innovative platform.

What Is Invoca?

Invoca, founded on May 1, 2008, is based in Santa Barbara, California. The company was established by Colin Kelley, Jason Spievak, and Robert Duva.

Specializing in AI-powered conversation analytics software, Invoca helps businesses enhance their marketing, sales, and contact center operations by turning conversation data into actionable insights.

With a workforce of 251-500 employees, Invoca continues to drive efficient and profitable revenue growth for its clients.

How Much Funding Has Invoca Raised?

1. Series A
   • Amount Raised: $3.5M
   • Date: June 2009
   • Lead Investors: Rincon Venture Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To develop the initial product and establish a market presence.
2. Series B
   • Amount Raised: $4M
   • Date: November 2010
   • Lead Investors: Rincon Venture Partners, Upfront Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance product features.
3. Venture Round
   • Amount Raised: $3.3M
   • Date: November 2012
   • Lead Investors: Rincon Venture Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand market reach and improve technology.
4. Series C
   • Amount Raised: $21.7M
   • Date: January 2014
   • Lead Investors: Accel
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To accelerate growth and invest in AI capabilities.
5. Series D
   • Amount Raised: $30M
   • Date: March 2016
   • Lead Investors: Morgan Stanley Alternative Investment Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand product offerings and enter new markets.
6. Series E
   • Amount Raised: $56M
   • Date: October 2019
   • Lead Investors: H.I.G. Growth Partners, Upfront Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance AI technology and support international expansion.
7. Series F
   • Amount Raised: $83M
   • Date: June 2022
   • Lead Investors: Silver Lake Waterman
   • Valuation at Round: $1.1B
   • Motivation Behind the Round: To accelerate product innovation, expand partnerships, and broaden geographic coverage.

Total Amount Raised: $184M. Current Valuation: $1.1B.

Key Investors

• Silver Lake Waterman
  • Details: Silver Lake Waterman is part of Silver Lake, a global leader in technology investing with over $88 billion in combined assets under management. They focus on providing flexible expansion capital to later-stage growth companies in technology and technology-enabled industries.
  • Investment Focus Areas: Technology, growth-stage companies, technology-enabled industries.
  • Notable Investments: Dell Technologies, Airbnb, Twitter.
• Upfront Ventures
  • Details: Upfront Ventures is a venture capital firm based in Los Angeles, California. They focus on early-stage investments in technology companies and have been active in the venture capital space for over two decades.
  • Investment Focus Areas: Early-stage technology companies, consumer internet, enterprise software.
  • Notable Investments: Bird, Ring, TrueCar.
• Accel
  • Details: Accel is a global venture capital firm that partners with exceptional founders to build world-class companies. They invest in companies at various stages, from seed to growth-stage.
  • Investment Focus Areas: Technology, consumer internet, enterprise software.
  • Notable Investments: Facebook, Dropbox, Slack.
• H.I.G. Capital
  • Details: H.I.G. Capital is a leading global private equity and alternative assets investment firm with over $45 billion of equity capital under management. They focus on small and mid-sized companies across various sectors.
  • Investment Focus Areas: Technology, healthcare, industrials.
  • Notable Investments: Not specified.
• Rincon Venture Partners
  • Details: Rincon Venture Partners is a venture capital firm that invests in early-stage software and web-based businesses. They are known for their hands-on approach and deep operational expertise.
  • Investment Focus Areas: Software, web-based businesses, early-stage companies.
  • Notable Investments: Not specified.

What's Next for Invoca?

Invoca stands at the cusp of significant growth opportunities, driven by the increasing demand for AI-powered conversation intelligence. The company plans to accelerate product innovation, expand partnerships, and broaden its geographic reach to Europe, Mexico, and South America. With the global contact center software market projected to grow substantially, Invoca's focus on enhancing its technology and expanding its product offerings positions it well to capture a larger market share.

Future fundraising opportunities appear promising, with potential for additional venture capital rounds or even an IPO, given the company's strong financial performance and market position. However, challenges such as competition, integration of new technologies, and maintaining service quality during rapid expansion could pose hurdles. Navigating these challenges will be crucial for Invoca as it continues to innovate and grow.

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